Best Buy discounts iPhone 4, sells for $49.99

May 17, 2012|By Salvador Rodriguez | This post has been updated. See the note below for details.

Best Buy has cut the price of the iPhone 4 to $49.99. (Best Buy )

Best Buy has dropped the price of the iPhone 4 in its store and online to $49.99.

The discounted price is $50 less than the 4's regular retail price, and it comes the same week Best Buy discounted other Apple products, notably MacBook Pros.

The $49.99 is available with a two-year contract and comes with free shipping if its purchased online.

[Updated, 1:31 p.m. May 17: The discount applies to the 8GB iPhone 4, based off of Best Buy's website.]

While the deal is nice, it isn't the only one going on with the iPhone 4 or even the iPhone 4S. Both Target and RadioShack slashed the price of the two most recent iPhones by $50 earlier this month, according to CNET.

But before you buy this low-cost iPhone, keep in mind that the sixth generation iPhone may be just around the corner. Most rumors pinpoint the next iPhone -- which could be called "the new iPhone" or the "iPhone Jumbo" based off recent developments -- arriving in October.

Then again, if you want a really good deal, just pick up this refurbished iPhone 4 at Best Buy for $29.99.